02 Jul '11, 12am

6 coffee shops sold for nearly $60 million. Diners shouldn't be affected for now, but may need to pay more in the future

6 coffee shops sold for nearly $60 million. Diners shouldn't be affected for now, but may need to pay more in the future

All six coffee shops were put up for sale by property investor Peter Koh. The highest-priced coffee shop is the one at Bukit Batok Street 11 (above) which is shaped like a pentagon from the top. It was sold for $14.5 million. The coffee shop at Ang Mo Kio Avenue 4 is one of the cheapest. It was sold for almost $5 million. -- PHOTOS: BT FILE, DESMOND WEE, DESMOND FOO View more photos SIX coffee shops have sold for an eye-popping price tag of nearly $60 million - showing how popular this form of dining has become for Singaporeans. Analysts told The Straits Times it is a pricey deal as coffee shops usually command about $4 million to $5 million. They said the $57.3 million tag may be due to the stable return on investments this type of venue can offer because of its long-term popularity with diners. However, diners should not be affected - at least for now - as the stallholde...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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